Loan Protection

While it's always best to look on the bright side, the truth is that bad things sometimes happen. Should something happen to you, loan insurance will take care of your payments for up to 72 months. If the worst happens, your loan will be paid off in its entirety.

Loan Disability Insurance (in the case of an accident, injury or long-term illness):

  • a maximum monthly benefit of $1,500 
  • a maximum insurance term of 72 months
  • a maximum total benefit of $108,000 
  • an age range eligibility of 16 - 59 years
  • payments are made regardless of other disability plans 
  • a joint coverage option

Loan Life Insurance (in the case of death*):

  • a maximum total benefit of $100,000 
  • an age range eligibility of 16 - 65 years
  • a maximum insurance term of 120 months
  • payments are made regardless of other life insurance plans 
  • a joint coverage option

Line of Credit Disability Insurance (in the case of an accident, injury or long-term illness):

  • a maximum monthly benefit of $3000
  • a maximum term of 24 months per insured
  • an age range eligibility of 18 - 59 years
  • payments are made regardless of other disability plans 
  • a joint coverage option

Line of Credit Life Insurance (in the case of death):

  • a maximum total benefit of $100,000
  • an age range eligibility of 18 - 69 years
  • no tax on payments
  • payments are made regardless of other plans 
  • a joint coverage option

For more information or to book an appointment with one of our lending insurance specialists, contact us.